Cairo – Mubasher: Shareholders of Zahraa Maadi Investment and Development approved distributing cash dividends for 2015 at EGP 1 per share, or 100% of capital, totaling EGP55 million, the company said in a bourse filing Thursday.
They also endorsed the reports of the board and auditor as well as the financial statements for the fiscal year 2015.
Earlier, the board recommended paying out dividends at 100% of paid-in capital with a total amount of EGP55 million, over two installments at 5% and 95% respectively.
In 2015, the real estate developer’s profits jumped 43.6% year-over-year to EGP161.85 million from EGP112.5 million.
The company operates with a paid-in capital of EGP55 million, distributed over 55 million shares at EGP1 par value each.
